Behavior Management System?!

    I am a 1st year Kinder teacher but was a sped teacher for
    several years. The school I am at has said we must use a
    color-coded behavior system with clips. Kids start every
    day on Green, one infraction they move to yellow, another
    to Orange and another to Red. If they are on red at
    lunch they miss 5 minutes of recess. The system resets
    at noon and if they are on Red at end o the day then
    there is a phone call home and they miss 5 minutes of
    Center time. Now, they scrapped this system. I actually
    felt that it was effective. What type of behavior
    management system(s) do you use?! I am considering just
    having kids go to time out at their table seats for
    infractions and then (based on how many times I have to
    reprimand them) they lose center time??!